LG Chem said on the 26th it will expand its business framework into "four growth engines" by adding high-value specialty products to its existing new businesses of ▲ eco-friendly business ▲ battery materials ▲ global innovative new drugs. Through this, it plans to more than triple its growth pace by 2030 and strengthen its growth base.
Amid the global shift toward a circular economy and low-carbon transition, LG Chem is fostering a sustainability-focused, bio- and recycling-centered eco-friendly business as a future core pillar.
It is continuously applying mechanically recycled plastics (PCR), and the BCB product lineup based on bio feedstock is feeding bio raw materials such as used cooking oil and plant by-products into the existing naphtha process. Through biofuel (HVO) based on used cooking oil, it is also accelerating in-house bio naphtha and the production of sustainable aviation fuel (SAF).
The battery materials business is adjusting its portfolio around high-value cathode materials. By lowering the nickel content compared with high-nickel (Hi-Ni) while applying high voltage, it is focusing on high-voltage mid-nickel (HV Mid-Ni), which secures both price competitiveness and energy density.
LG Chem is developing next-generation cathode material lithium manganese rich (LMR), which applies its self-developed new precursor process (LGPF) and raises manganese content to reduce cost while increasing energy density. In the lithium iron phosphate (LFP) battery field, it is also focusing on creating new demand by improving performance and lowering expense compared with existing products based on new process technology.
The electronics materials business is also a new growth pillar that LG Chem is prioritizing. Based on its existing high-purity chemicals and precision synthesis capabilities, LG Chem is expanding into AI and packaging materials for non-memory chips, broadening its semiconductor client base. In electric vehicles, it is also expanding supplies of functional materials needed for battery modules, drive sensors, and communications, such as adhesives and EPC (high flame-retardant materials).
It is also increasing investment in new drug development. While pushing clinical-stage tasks on schedule, including a phase 3 head and neck cancer therapy and a phase 1 immuno-oncology drug, LG Chem is securing new drug candidates with next-generation therapeutic technologies step by step from the research stage.
It is also reviewing ways to expand into women's health based on infertility treatments and to include osteoporosis and post-surgical pain management in its scope of work. LG Chem's strategy is to expand into adjacent diseases to boost synergy with its existing product lineup while also securing new revenue bases.
In addition, it will push a structural shift centered on new high-value specialty products and concentrate its capabilities on developing premium products tailored for specialized uses.
High-performance resin (ABS), a key high-value material used in automotive exterior parts, premium home appliances, and medical device housings, is increasing the share of premium products such as high-heat-resistant ABS, matte ABS, and transparent ABS. SSBR, a synthetic rubber essential for manufacturing high-performance tires for electric vehicles, will expand its portfolio with ultra-high-molecular-weight and ultra-low-rolling-resistance products.
For IPA, a high-purity solvent used in semiconductor process cleaning, it is focusing on supplying high-purity products optimized for semiconductor and display manufacturing processes. In addition, it plans to concentrate on securing various high-performance materials, including ultra-high-polymerization PVC for high-heat, high-strength fast-charging cables for electric vehicles and aerogel that blocks thermal runaway.